Angiogenesis is concerned with the occurrence of pathological processes of various inflammatory diseases (rheumatic diseases, psoriasis, etc.), diabetic retinopathy, tumors, etc. Therefore, it has been considered that inhibition of angiogenesis has a connection with therapy and prophylaxis of these diseases and several groups have searched for substances capable of inhibiting angiogenesis. For example,.mention is made of research works for application of Protamine by Taylor [Taylor, S, et al., Nature, 297, 307 (1982)] and for use of heparin in the presence of cortisone by Folkman et al. [Folkman, J. et al., Science, 221, 719 (1983)]. Furthermore, patent applications have been filed directed to ascorbic acid ether and its related compounds (JP-A-131978/1983) or polysaccharide sulfate DS4125 (JP-A-119500/1988) as compounds showing activity of inhibiting angiogenesis. However, the activities of these compounds are not sufficiently satisfactory, and compounds having more satisfactory activity are desired.